Atlantic Nickel announced a potential underground resource of 152mn mt—with a 0.59pc nickel sulphide content and 0.19pc copper content to be present—in Southern Bahia, Brazil.
The company will announce the preliminary economic assessment plans on the mineral resource later this year, it said in a statement. Its new Economic Use Plan (PEA) will be executed in the third quarter of the year to further explore the mine’s exploration potential.
Atlantic Nickel is controlled by the Appian Brazil Group and currently owns an open pit mine with resources close to 53.5mn mt, with 0.33pc nickel sulphide and 0.11pc copper content.
In the first quarter of the year, the company produced close to 27,215mt of nickel concentrate and has completed three shipments to China and Europe, despite the COVID-19 crisis. Demand for sulphide nickel has been unencumbered by complications arising from the pandemic, with additional production allocated to the company’s European and Asian customers, it has stated.